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Background:
The EIB is providing Inmarsat a loan of up to 225 million euro (GBP 195
million) towards the construction and launch of the satellite, expected to cost
around 598 million euro (GBP 520 million). The loan is being provided from the
joint EC-EIB Risk Sharing Finance Facility, backed by funds from the European
Union’s 7th research framework programme (1 billion euro, about GBP 869
million) and EIB own resources (1 billion euro, about GBP 869 million). ESA is
contributing around 230 million euro(GBP 200 million) through the provision of
the Alphabus platform.
The RSFF (see
IP/07/761,
EIB/07/50) improves access to research, development and innovation
financing for private companies or public institutions. The RSFF covers
projects whose ambition and complexity makes private funding sources difficult
to find, despite the prospects of major benefits in terms of economic growth,
job creation, competitiveness and social advances. By leveraging other funds,
the facility will overall create an additional financing capacity of up to 10
billion euro (GBP 8.6 billion) for eligible activities.
For more details see:
http://ec.europa.eu/invest-in-research/funding/funding02_en.htm
http://www.eib.org/products/loans/special/rsff/index.htm
www.esa.int
www.inmarsat.co.uk
For more information, please contact the London press office on 020 7973
1971.
Please note: all amounts expressed in sterling are for information purposes
only.
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